Provident Financial News

Also Read: Chandrayaan 3: A glossary of words you need to know This year, the Sanskrit Diwas falls on Thursday, August 31. The purpose of this day's celebration is to raise awareness and advocate for Sanskrit, one of India's oldest and ancient languages. Here are 10 English words derived from Sanskrit.

In an interview with Mint, Niraj Kumar, Chief Investment Officer of Future Generali India Life Insurance Company said while India remains an attractive investment destination for long-term investors given its strong macro fundamentals, the current valuations offer a limited margin of safety. Kumar also talked about the sectors that look attractive at this juncture and how General Elections 2024 will influence the market. The global economy has been witnessing conflicting signals in terms of economic activity and growth.

“On the valuation front (P/BV), NIFTY has seen some time-wise correction and is currently trading at around 1x standard deviation,” says Deepak Ramaraju, Senior Fund Manager, Shriram AMC. In an interview with ETMarkets, Ramaraju said: “Midcaps are the most expensive of the pack, trading at 1.5x of that, and small caps are trading at 1x standard deviation” Edited excerpts:A proud moment for India when Chandrayaan 3 landed on the moon last week. How will India Inc. benefit from these space missions? The unsung heroes.It's indeed a proud moment for the entire nation.

China's Baidu rolled out its ChatGPT rival ERNIE Bot to the public on Thursday, in a major leap for the country's tech sector as it aims to cash in on the global artificial intelligence gold rush. The Chinese government introduced fresh regulations this month for AI developers, aiming to allow them to stay in the race with the likes of Microsoft and OpenAI but still tightly controlling information online. ERNIE Bot is the first domestic AI app to be fully available to the public in China.

Dipan Mehta, Director, Elixir Equities, says “look at the kind of festive season planning which is taking place. Retailers, be it in electronics or consumer goods or even some of the other consumer businesses, are revving up to having a fabulous festive season as well, maybe some amount of dampener because of a subpar monsoon. But by and large, we are going to see hectic spending taking place for the next few months’ right up to December.”We are already at Rs 100 on Zomato. I mean, the market has clearly moved at almost 60% odd year-to-date from those R 40 odd lows. Would you still recommend buying into Zomato, if at all you like the story?Certainly, we like the story and clearly the management is following through on its plan.

Uranium should be added to Australia’s critical minerals list and the government should consider domestic enrichment of the nuclear fuel, according to the Minerals Council of Australia.

Atlas Arteria chief executive Graeme Bevans says the tollroad group is benefiting from inflation as rising toll fares helped lift its interim net profit by 17 per cent to $136.5 million.

India is one of the fastest growing electric vehicle markets in the world, and more than 90% of India’s 2.3 million EVs are the cheaper and more popular two- or three-wheelers — that’s motorbikes, scooters and rickshaws

If you hail a rickshaw in the Indian city of Bengaluru, your driver might just be a 38-year-old transgender woman named Preethi

Gusty winds and low humidity have brought a high risk of wildfires to the interior of Northern California

The Russian currency has stabilized after dipping below 100 rubles to the U.S. dollar — but that doesn't mean the pressure is off Russia's economy

The country’s largest locomotive manufacturer and its striking union workers have reached a tentative agreement that could end a two-month strike that saw about 1,400 people walk off the job at its Pennsylvania plant

Electric vehicle tax credits aren’t just for new EVs anymore

Biden administration has approved the first-ever US military transfer to Taiwan under a programme generally reserved for assistance to sovereign, independent states. The State Department notified Congress of the sale on Wednesday.

IDBI bank's plea against Zee Entertainment related to insolvency proceedings on Thursday. "Learned Counsel for Appellant prays for and is allowed a week’s time to file the Additional Affidavit," said the NCLAT bench, comprising Chairperson Justice Ashok Bhushan and Member Barun Mitra, reported PTI. In its plea, the IDBI bank had challenged the orders of the Mumbai bench of the NCLT, which rejected the private lender's plea to begin the insolvency proceedings against Zee Entertainment Enterprises Ltd.

Airport Limited (BIAL) announced that it has postponed the commencement of international operations at Terminal 2 scheduled for today i.e. 31 August. The airport said that the international operations will continue to remain in Terminal 1 until further notice.

Also read: HDFC AMC is launching a fresh edition of its Cancer Cure Fund in collaboration with ICS Atezolizumab, also known as Tecentriq, is an immunotherapy drug produced by Genentech, a Roche company. It works by enhancing a patient's immune system to identify and eliminate cancer cells. Traditionally, the drug is administered through intravenous infusion, which can take up to an hour and can be challenging for some patients due to difficulties in accessing veins.

Chandrayaan-3's historic moon landing — a success story of India's fightback after failures, that too on a mere ₹615 crore budget — is set to provide plenty of food for thought for budding managers at the Indian Institutes of Management (IIMs). The mission, a case study in frugal innovation, has much that management students can learn from — strategy, collaboration, innovation, cost control and optimisation of resources, how leaders can process failure and move on — said professors and directors of the IIMs at Ahmedabad, Kozhikode, Sirmaur and Sambalpur. At IIM Sirmaur, the faculty members are working on developing a case study on the topic, said director Prafulla Agnihotri. «Chandrayaan-3 is an ideal example of great teamwork, charismatic leadership and how an organisation achieves its goal with minimum resources. It will be an excellent case study in the areas of corporate strategy and strategic leadership,» he said.

Australia’s largest white goods and home retailer Harvey Norman has posted a double-digit slide in profits and dividends over fiscal 2023, meeting its lower June guidance, and says its on track to deliver it Malaysian expansion plan.

Spark Capital Advisors (India), one of the oldest mid-market investment banking and financial services companies, announced a strategic evolution to propel its journey into the future. Having successfully navigated the investment landscape, Spark Capital significantly strengthens and enhances its wealth and asset management business, Spark Private Wealth, by integrating investment banking and asset management expertise. Co-chief executives Arpita Vinay and S Ganashyam lead the venture. Spark Private Wealth has a team of over 200 seasoned private bankers and experts.

Zhongrong International Trust, potentially paving the way for a state-led rescue of the troubled shadow lender, according to people familiar with the matter.Citic Trust, a unit of conglomerate Citic Group, and CCB Trust will lead the effort to stabilize operations at Zhongrong. The plan underscores growing concern among policymakers about the $2.9 trillion trust sector's impact on financial stability amid disappointing economic growth and a worsening property slump. It’s also another sign of how Beijing is leaning on stronger state-owned companies to shore up the economy and keep risks in check.